{"code":"FIN","codeName":"Financial Code","section":"1134","citation":"Fin. Code, ยง 1134","status":"in-force","lawOn":"2026-09-28","headings":[{"name":"DIVISION 1.1. BANKING [1000. - 1910.]","url":"https://blackletter.si/financial-code/division-1.1"},{"name":"CHAPTER 5. Corporate Requirements [1100. - 1190.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-5"},{"name":"ARTICLE 3. Distributions to Shareholders [1130. - 1135.]","url":"https://blackletter.si/financial-code/division-1.1/chapter-5/article-3"}],"history":"Added by Stats. 2011, Ch. 243, Sec. 3. (SB 664) Effective January 1, 2012.","effective":"2012-01-01","html":"

Notwithstanding the provisions of Section 1132, a bank may:

(a) With the prior approval of the commissioner, make a distribution to its shareholders by means of redeeming its redeemable shares; and

(b) With the prior approval of its outstanding shares and of the commissioner, otherwise make a distribution to its shareholders in connection with a reduction of its contributed capital.

","text":"Notwithstanding the provisions of Section 1132, a bank may: (a) With the prior approval of the commissioner, make a distribution to its shareholders by means of redeeming its redeemable shares; and (b) With the prior approval of its outstanding shares and of the commissioner, otherwise make a distribution to its shareholders in connection with a reduction of its contributed capital.","otherVersions":[],"url":"https://blackletter.si/financial-code/distributions-to-shareholders-1134","source":"California Legislative Information bulk export (pubinfo)"}